Belarus chooses Russian investor in petrochemicals Yesterday in Minsk negotiations were held between the management of the Slavneft company and the Belneftekhim concern. Slavneft intends to participate in the corporatization and modernization of the Naftan oil refinery and the Polymir plant. She plans to implement this project jointly with the Surgutneftegaz company. A similar project is being proposed to the Belarusian leadership by LUKOIL and Itera.

The Federal Energy Commission announced the winner of the tender for the right to develop a concept and mechanism for implementing a system of agreed tariffs and prices for natural monopolies. It was a consortium of consultants led by the auditing and consulting firm “Modern Business Technologies” (SBT).

The Tyumen Oil Company (TNK) and Sibneft announced their intention to sign a new agreement on joint management of the oil company ONAKO, owned by TNK. Sibneft owns 46% of the shares of ONAKO's main subsidiary, Orenburgneft. Previously, Sibneft and TNK agreed to exchange a stake in Orenburgneft for a 33% stake in ONAKO, but at the last moment Sibneft refused. TNK and Sibneft will determine new terms and a scheme for exchanging shares in the near future, and on the basis of previous principles.

Shares of the bankrupt plant rose tenfold The stock quotes of the Orsko-Khalilovsky Metallurgical Plant (NOSTA, Orenburg Region), which has been in the process of bankruptcy for more than six months, unexpectedly “shot up” yesterday. Yesterday they grew 2.1 times, and the trading volume of these securities amounted to $25 million, or 56% of the total turnover in the Russian Trading System (RTS). True, who needed to carry out such large-scale transactions remains a mystery.

Prosecutors and Yukos have different views on the fate of VNK's assets The story of the failed sale of the government's stake in the Eastern Oil Company (VNK) in December 2001 unexpectedly received a criminal continuation. As it turned out, the Ministry of Internal Affairs of the Russian Federation put Ramil Burganov, a member of the Board of Directors of VNK and the manager of the affairs of YUKOS's subsidiary, the YUKOS-EP company, on the international wanted list.

He is interested in electricity and the aluminum industry The largest player in the Russian aluminum market, Russian Aluminum, seems to be following Norilsk Nickel in betting on transformation into a transnational corporation. Yesterday the company signed a memorandum of understanding with the Brazilian division of General Electric and local construction company Luminar to create a joint venture that will become a contractor for the Brazilian government to implement the energy program.

Alexander Sabadash is fighting with the Oktyabrskaya Railway for the Baltic Bank Influential St. Petersburg businessman Alexander Sabadash is trying to take control of the Baltic Bank. This is at least what they think at the bank itself, which yesterday failed to reverse the court decision in the case of a 49 percent stake in this credit institution. Previously, this stake belonged to the October Railway, but now it seems that it is going to Sabadash.

UMMC is ready for the competition for the development of the world's largest copper deposit At a meeting between the Governor of the Sverdlovsk Region, Eduard Rossel, and one of the main owners of the Ural Mining and Metallurgical Company (UMMC), Iskander Makhmudov, the final version of the draft agreement between the heads of executive power of the Sverdlovsk and Chita regions was approved. It will be signed on January 30 during Rossel’s visit to Chita.

It is unknown to whom the controlling stake in Babaevsky was sold The auction for the sale of a controlling stake in the Babaevsky confectionery concern ended yesterday completely unexpectedly: bailiffs appeared in the hall where the envelopes with proposals from the participants were opened with a ruling banning the auction. Nevertheless, the committee of creditors of Inkombank, which owns the stake, managed to sell shares of Babayevka to an unknown company yesterday.

RAO UES shares are being squeezed by competitors Investors' favorites and the most liquid securities of the Russian stock market - ordinary shares of RAO UES - are losing their market share in terms of trading volumes. If at the end of 2000 the share of these securities in the total turnover in the Russian Trading System (RTS) was 60-70%, then by the end of 2001 it dropped to 30-35%. The same picture is observed on another platform - the Moscow Interbank Currency Exchange (MICEX).